Provided by Dow Jones By Yifan Wang BYD Co. shares jumped in morning trade Wednesday as investors warmed up to the electric car maker after it finalized details of an expected listing of its chip-making unit. The stock gained as much as 7.6% by the midday trading break. The Chinese car maker late Tuesday announced plans to list its subsidiary BYD Semiconductor Co. Ltd. on the Growth Enterprise Market of the Shenzhen stock exchange. BYD had earlier expressed intentions for a potential listing when it spun off the unit and secured a host of strategic investors last year. Investors have grown increasingly enthusiastic about the semiconductor sector as a global supply shortage and booming electronics demand fuelled the industry s earnings and stock valuations in recent months.
Foxconn launches mass hiring drive in China as output in India sinks
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Renishaw Is Said to Face Uphill Battle to Sell Over Steep Price
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Provided by Dow Jones By Clarence Leong Foxconn Technology Group shares fell sharply Tuesday, in line with the weak performance of technology stocks in the region as investors took cues from a tech selloff in the U.S. overnight. The iPhone assembler s Taiwan-listed shares fell to an intraday low of NT$106.00, their lowest level since Jan. 13, according to FactSet. Reports of a slump in production at a Foxconn factory in India because of workers infected with Covid-19 further weighed on the stock. Shares of the company, formally known as Hon Hai Precision Industry Co., were recently at NT$106.50, down 5.8%, underperforming the benchmark Taiex s 4.4% decline.
Renishaw Said to Face Uphill Battle to Sell Over Steep Price
This content was published on May 11, 2021 - 07:22
May 11, 2021 - 07:22
(Bloomberg) British engineering firm Renishaw Plc is struggling to attract takeover interest because of a hefty price tag and list of ownership demands, people familiar with the matter said.
Rival engineering companies Hexagon AB, Schneider Electric SE and Siemens AG all decided against pursuing Renishaw, the people said, asking not to be identified discussing confidential information. While several competitors viewed Renishaw and its technology as attractive, they were turned away by a high valuation that makes a deal prohibitively dilutive to earnings, the people said.